Owner of Kay Jewelers, Jared plans more than 150 closures

Signet Jewelers Limited expects to close more than 150 stores this year, reducing overall store count by 13 percent over a three-year period.

The jewelry company, which owns Kay Jewelers, Jared Galleria of Jewelry, Zales, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda and several regional brands like Osterman Jeweler and Rogers Jewelers, recorded same-store sales drops of 2 percent in the fourth quarter of 2018, according to a statement. For the full year, sales decreased o.1 percent.